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Yesterday, struggling teen retailer Aéropostale fired its CEO, Thomas Johnson, replacing him with former leader Julian R. Geiger. Geiger left Aéropostale after 14 years in 2010 to run Crumbs, the once-great cupcake chain that just closed its doors. As Racked previously reported, Aéropostale's numbers have been dire for a few years. In January of 2012, the company was down 30 percent; in January of 2014, it was down 35 percent.
"My decision to return to Aeropostale to be its Chief Executive Officer is one that was easy to make," said Geiger in a statement. "It is with enormous excitement that I prepare to lead the Aeropostale team into a future filled with optimism and opportunity." He termed the turnaround effort a "compelling and dynamic challenge."
· Aeropostale Soars After Sacking CEO For Former Boss [Forbes]
· Aéropostale Names New CEO, Projects Narrower Loss [WSJ]
· Wall Streeters: Lululemon, Aeropostale Will Disappear in 2015 [Racked]
· Can Once-Mighty Teen Retailer Aeropostale Save Itself? [Racked]